these markets financial information is one of the major and valuable resources and has important contribution in making integrated and competitive markets. In this paper the role and effect of the accounting profession in the development of the capital markets has been studied. The results of the study indicate presence of accounting profession as interface between favorable investment opportunities and users of financial information is a need in development and growth of capital markets. In order to develop the capital markets , accounting research with a focus on users and potential investors and also reporting procedures based on user`s needs and regulating financial transparency by legislating appropriate international standards have been suggested.

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